Hence, the American government no longer simply funds or regulates innovation, but merely outsources it to its own financiers. This includes everything from energy to defense to AI, where federal programs now function less as public initiatives and more as co-investments in the portfolios of Big Venture.

What if investors could directly fund product R&D within existing companies, taking risk in exchange for a future share of revenue?

Now, two things are happening.

1. Technology is making old and new ideas cheaper and easier to build.




2. There’s a reemergence of “premium demand.”

Ideas Need Adoption to Make an Impact

Ideas alone are not enough. They need to be techno-economically viable, buildable for a low enough cost that the market is able to adopt them. There is no progress without

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